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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Switching Credit Cards Date:  9/20/2012  4:22 PM
Author:  vkg Number:  305983 of 312161

I already have multiple credit cards so I don't plan to open a new account.

Is the card you would switch to Amazon your oldest card? If it isn't, closing may not have any effect on your credit rating.

A new account is "new" credit for a year, and that could lower your credit rating.

Both of these concerns are minor if in the next year or so you aren't planning on obtaining a mortgage or other significant loans.
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